Barnes Group, Inc. (B) Stake Raised by Sei Investments Co.
Sei Investments Co. boosted its stake in Barnes Group, Inc. (NYSE:B) by 8.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 136,821 shares of the industrial products company’s stock after buying an additional 10,987 shares during the period. Sei Investments Co.’s holdings in Barnes Group were worth $8,008,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in B. Jennison Associates LLC raised its position in Barnes Group by 0.5% in the first quarter. Jennison Associates LLC now owns 19,338 shares of the industrial products company’s stock valued at $993,000 after buying an additional 99 shares in the last quarter. Wells Fargo & Company MN raised its position in Barnes Group by 20.9% in the first quarter. Wells Fargo & Company MN now owns 156,307 shares of the industrial products company’s stock valued at $8,025,000 after buying an additional 26,992 shares in the last quarter. Dubuque Bank & Trust Co. purchased a new position in Barnes Group during the first quarter valued at $216,000. Glen Harbor Capital Management LLC raised its position in Barnes Group by 0.7% in the first quarter. Glen Harbor Capital Management LLC now owns 24,048 shares of the industrial products company’s stock valued at $1,235,000 after buying an additional 160 shares in the last quarter. Finally, Independent Portfolio Consultants Inc. raised its position in Barnes Group by 4.4% in the first quarter. Independent Portfolio Consultants Inc. now owns 16,705 shares of the industrial products company’s stock valued at $858,000 after buying an additional 710 shares in the last quarter. Institutional investors own 85.50% of the company’s stock.
Shares of Barnes Group, Inc. (NYSE:B) opened at 58.68 on Friday. The company has a market cap of $3.16 billion, a P/E ratio of 20.52 and a beta of 1.43. Barnes Group, Inc. has a one year low of $37.88 and a one year high of $62.37. The company’s 50 day moving average is $59.69 and its 200 day moving average is $54.25.
Barnes Group (NYSE:B) last posted its quarterly earnings data on Friday, July 28th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. Barnes Group had a net margin of 11.69% and a return on equity of 13.02%. The business had revenue of $364.49 million during the quarter, compared to the consensus estimate of $337.69 million. During the same quarter last year, the company posted $0.63 earnings per share. The firm’s quarterly revenue was up 18.8% compared to the same quarter last year. On average, equities analysts predict that Barnes Group, Inc. will post $2.89 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Thursday, August 24th will be issued a dividend of $0.14 per share. The ex-dividend date is Tuesday, August 22nd. This represents a $0.56 dividend on an annualized basis and a yield of 0.95%. Barnes Group’s dividend payout ratio (DPR) is presently 19.58%.
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Several research analysts have recently weighed in on the stock. Oppenheimer Holdings, Inc. boosted their price objective on shares of Barnes Group from $58.00 to $67.00 and gave the stock an “outperform” rating in a research note on Monday, July 31st. BidaskClub downgraded shares of Barnes Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 27th. Jefferies Group LLC reaffirmed a “buy” rating and set a $66.00 target price on shares of Barnes Group in a report on Thursday, June 8th. ValuEngine raised shares of Barnes Group from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, Zacks Investment Research raised shares of Barnes Group from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a report on Monday, May 22nd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $58.20.
In related news, VP Marian Acker sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $60.38, for a total transaction of $362,280.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Hassell H. Mcclellan sold 2,000 shares of the firm’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $56.00, for a total transaction of $112,000.00. The disclosure for this sale can be found here. Insiders have sold 9,000 shares of company stock valued at $530,340 in the last 90 days. 8.50% of the stock is currently owned by corporate insiders.
Barnes Group Company Profile
Barnes Group Inc is an industrial and aerospace manufacturer and service provider, serving a range of end markets and customers. The Company’s engineered products, industrial technologies, and solutions are used in applications that provide transportation, manufacturing, healthcare products and technology to the world.
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